Music-related NFTs have gone mainstream in recent weeks, attracting the interest of superstar artists from Kings of Leon to Post Malone, Shawn Mendes, Grimes and Steve Aoki.
MBW noted on Friday that sales of the digital assets have topped $25m in the past month alone – and today brings news of a prominent music industry executive making the move to a full time role in this space.
Downtown Music Holdings’ Chief Strategy Officer Joe Conyers III has left the company to join Hong Kong-headquartered Crypto.com as EVP, Global Head of NFTs.
While at Downtown, Conyers co-founded Songtrust, a global music royalty collection and publishing administration company headquartered in the United States.
The company enables over 350,000 songwriters, producers, and other rightsholders to collect their publishing royalties worldwide for over 3m copyrights.
Songtrust also provides publishing royalty collection solutions for corporate clients including CD Baby, Distrokid, Downtown Music Publishing, The Orchard, Sub Pop Publishing, and Trap Nation.
Conyers also co-founded art media company ArtObserved.com over 15 years ago.
In this new role, Conyers will oversee the development of Crypto.com’s new invite-only NFT platform, which a press release claims “will feature the world’s top artists, athletes and sports leagues”.
Crypto.com currently serves over 10m customers and employs 900 people.
Co-founder Kris Marszalek states that the platform is aiming for 100m over the next two years, and that “there is no doubt the NFT market will be a major growth driver”.
“I look forward to giving fans and collectors a new way to connect with creators of all types, while offering everyone an opportunity to earn their fair share.”
Joe Conyers III
Joe Conyers III, said: “I’m very excited to lead what is sure to become the preeminent NFT platform. Crypto.com’s commitment to creating premium user experiences is unparalleled in the market.
“I look forward to giving fans and collectors a new way to connect with creators of all types, while offering everyone an opportunity to earn their fair share.”
“Joe’s unique experience building and managing some of the largest creator driven companies in the world will accelerate our growth in the NFT market.”
Kris Marszalek, Crypto.com
Kris Marszalek, co-founder and CEO of Crypto.com, added: “As we work towards growing from 10m users to 100m over the next two years, there is no doubt the NFT market will be a major growth driver.
“Joe’s unique experience building and managing some of the largest creator driven companies in the world will accelerate our growth in the NFT market.
“While excitement for NFTs reached an all-time high recently, this is just the beginning.”Music Business Worldwide
